Mufg Securities Americas Inc. Invests $496,000 in ResMed Inc. (NYSE:RMD)

Mufg Securities Americas Inc. bought a new stake in ResMed Inc. (NYSE:RMD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,167 shares of the medical equipment provider’s stock, valued at approximately $496,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Colonial Trust Co SC lifted its position in shares of ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 125 shares in the last quarter. Optiver Holding B.V. purchased a new position in ResMed in the 4th quarter valued at about $33,000. Itau Unibanco Holding S.A. boosted its stake in shares of ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of ResMed during the 4th quarter worth about $39,000. Finally, Coppell Advisory Solutions LLC grew its holdings in shares of ResMed by 1,750.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 175 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Insider Activity

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at $95,580,799.20. This represents a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total transaction of $455,420.00. Following the transaction, the director now directly owns 75,218 shares of the company’s stock, valued at approximately $17,127,890.78. This represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,949 shares of company stock worth $11,335,320. 0.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of ResMed from $286.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. UBS Group decreased their price objective on ResMed from $290.00 to $285.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Piper Sandler lowered their price objective on ResMed from $260.00 to $248.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Friday, May 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $258.83.

ResMed Stock Up 0.7%

Shares of NYSE RMD opened at $248.60 on Friday. The stock has a fifty day moving average price of $224.81 and a 200 day moving average price of $234.18. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12-month low of $179.42 and a 12-month high of $263.05. The company has a market cap of $36.45 billion, a P/E ratio of 29.35, a P/E/G ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.13 earnings per share. Research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. ResMed’s payout ratio is currently 23.79%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.